DOCSLIB.ORG

Affinity Water East Limited (Formerly Veolia Water East Limited)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Affinity Water East Limited (Formerly Veolia Water East Limited) AFFINITY WATER EAST LIMITED (FORMERLY VEOLIA WATER EAST LIMITED) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2013 (Registered Number 2663338) Affinity Water East Limited (formerly Veolia Water East Limited) Contents Page Directors and advisers 1 Directors’ report 2 Independent auditor’s report 7 Profit and loss account 9 Statement of total recognised gains and losses 10 Note of historical cost profits and losses 11 Balance sheet 12 Notes to the financial statements 13 Affinity Water East Limited (formerly Veolia Water East Limited) Directors and advisers Directors Richard Bienfait (appointed 11 July 2012) Duncan Bates (appointed 27 July 2012) Nevil Muncaster (Managing Director) (resigned 27 June 2012) Jeffrey Herbert (Chairman) (resigned 27 July 2012) Peter Martin (resigned 27 July 2012) Olivier Bret (resigned 27 June 2012) Company Secretary Tim Monod Tim Charlesworth (Joint Secretary) (appointed 1 June 2012, resigned 22 January 2013) Graham Oliver (resigned 13 April 2012) Registered Office Tamblin Way Hatfield Hertfordshire AL10 9EZ Registered Auditors Ernst & Young LLP 1 More London Place London SE1 2AF Registered Number 2663338 1 Affinity Water East Limited (formerly Veolia Water East Limited) Directors’ report for the year ended 31 March 2013 Introduction The directors present their annual report and the audited statutory financial statements for the year ended 31 March 2013. The name of the company changed from Veolia Water East Limited to Affinity Water East Limited on 1 October 2013. Principal activity The principal activity of the company was the supply of water to an estimated population of 157,000 in an area of 352 square kilometres in the north-east Essex. Following the sale of all the company’s trade, assets and liabilities to Affinity Water Limited on 27 July 2012, the company’s main activity is to manage its financial resources to maximise returns to the company’s shareholders. Significant events during the year On 6 December 2011, the company’s then ultimate parent company and controlling party, Veolia Environnement S.A., announced its intention to sell its regulated water interests in the United Kingdom. On 28 June 2012, the majority shareholding in the group of companies, of which Affinity Water East Limited (formerly Veolia Water East Limited) was a wholly owned subsidiary, and of which Affinity Water Capital Funds Limited (formerly Veolia Water Capital Funds Limited) was the ultimate parent undertaking, was sold by Veolia Water UK Limited (formerly Veolia Water UK Plc) to Affinity Water Acquisitions Limited (formerly Rift Acquisitions Limited), an acquisition entity formed by Infracapital Partners II, the infrastructure investment fund managed by M&G (the European Investment arm of Prudential Plc), and Morgan Stanley Infrastructure Partners. Veolia Environnement S.A. has retained a 10 per cent minority shareholding through its subsidiary Veolia Water UK Limited. On 27 June 2012, in accordance with the terms of the sale of the Affinity Water Capital Funds Limited group by Veolia Water UK Limited, an exceptional deficit repair contribution amounting to £0.75m was made into the Veolia UK Pension Plan (the ‘VUKPP’). Following discussions with Ofwat during 2011, Affinity Water Limited (formerly Veolia Water Central Limited) made a formal application to Ofwat on 23 February 2012 to unify the licenses of the formerly named companies Veolia Water Central Limited, Veolia Water East Limited and Veolia Water Southeast Limited so as to operate the three areas under a single licence. Approval was received from Ofwat following a period of formal public consultation. The unification of the regulated businesses was effected on 27 July 2012. Affinity Water East Limited received £65m from Affinity Water Limited as consideration for the transfer of the trade and net assets on that date. This amount was then transferred to Affinity Water Capital Funds Limited as a long term loan. As a part of the rebranding of the whole retained group post divestment from Veolia Water Limited, on 1 October 2012, the name of the company changed from Veolia Water East Limited to Affinity Water East Limited. Directors The directors of the company, together with their periods of office, are shown on page 1. 2 Affinity Water East Limited (formerly Veolia Water East Limited) Directors’ report for the year ended 31 March 2013 (continued) Business review and financial performance The turnover for the year is £5.2m (2012: 12 months £15.1m) and operating costs are £3.6m (2012: 12 months £11.4m), remaining fairly consistent with the previous year on a proportionate basis. Interest income from the long term loan of £65m to Affinity Water Capital Funds Limited is £3.3m (2012: £nil). The overall profit after tax for the year is £8.9m (2012: £2.9m) which includes £5.7m from the profit on the sale of the business to Affinity Water Limited on the unification of the water licences. Future developments The company will continue to manage the business and its financial resources to maximise returns to the company’s shareholders for the long term. The company will earn interest charged against the £65m loan to Affinity Water Capital Funds Limited. Dividends The directors have declared and paid the following dividends during the year ended 31 March 2013: Ordinary dividends: £000 Interim – paid June 2012 2,392 Interim – paid January 2013 1,733 _________ 4,125 _________ The company’s parent company, Affinity Water Capital Funds Limited waived £90,000 of their £1,706,000 January 2013 interim dividend. Employees Communication and participation is a central theme to maintaining the employee relationship throughout the company. The company’s policy is to consult both formally and informally, on matters that affect employees, through a planned system of team briefings and other meetings. The company continued to place the highest priority on health and safety, and this subject remained the first agenda item at its Board meetings and monthly management meetings. The company gives full consideration to applications from disabled persons where the candidate’s particular aptitudes and abilities are consistent with the requirements of the job. Opportunities are available to disabled employees for training, career development and promotion. 3 Affinity Water East Limited (formerly Veolia Water East Limited) Directors’ report for the year ended 31 March 2013 (continued) Charitable and political contributions The company continues to make donations, largely to water-related and local organisations which aim to: • improve opportunities and create worthwhile experiences for the disadvantaged • improve the quality of life of senior citizens and the vulnerable within the community and • educate young people about water and sustainability issues. Donations are funded through operating expenditure and in 2013 £4,000 (2012: £12,000) was contributed to the Affinity Water Trust (formerly the Veolia Water Trust). The Affinity Water Trust is a charitable fund with a board of trustees administered by Charis Grants Limited. No political contributions were made during the year. Creditor payment policy The company recognises the importance of having a reasonable payment policy with its suppliers to: • settle the terms of payment with those suppliers when agreeing the terms of each transaction; • ensure that those suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and • pay in accordance with its contractual and other legal obligations. The payment policy applies to all payments to creditors for revenue and capital supplies of goods and services. The average number of creditor days is 102 (2012: 60). Corporate governance From 27 July 2012, the principal business of Affinity Water East Limited is to manage its financial resources to maximise returns to the company’s shareholders and the company is a wholly owned subsidiary of Affinity Water Capital Funds Limited. Both of the company’s directors are also directors of Affinity Water Limited. The company benefits from the corporate governance arrangements established by Affinity Water Limited, full details of which can be found in Affinity Water Limited’s own annual report and financial statements, together with more detailed corporate reporting disclosures. The Board has overall responsibility for the company’s systems of internal control and for reviewing the effectiveness of these systems. It is responsible for ensuring the company meets its obligations to its shareholders and meets from time to time to facilitate this. Going concern The company has adequate resources to meet its current operational and financial obligations, and the directors have a reasonable expectation that this will continue for the foreseeable future. This assessment is based on the consideration of the company’s budgeted cash flows, long term forecasts and related assumptions. For this reason, the directors continue to adopt the going concern basis in the statutory financial statements. 4 Affinity Water East Limited (formerly Veolia Water East Limited) Directors’ report for the year ended 31 March 2013 (continued) Directors’ qualifying third party indemnity provisions The company has granted an indemnity to one or more of its directors against liability in respect of proceedings brought by third parties, subject to the conditions set out in Section 234 of the Companies Act 2006. Such qualifying third party indemnity provision remains in force as at the date of approving the directors' report. Regulatory
Load more

Recommended publications
  • Water Efficiency and the Water Companies a 2010 UK Review Contents
    Water Efficiency and the Water Companies a 2010 UK Review Contents 01 Foreword 02 Supportive Quotes from Ministers, Water UK and Regulators 05 Part 1: Introduction and overview of water efficiency initiatives 06 Introduction 08 1.1 Direct activities of water companies to engage with all sectors 08 Engaging through online activities 08 Communicating to domestic customers 09 Working closely with non-domestic customers 09 Providing a range of water-efficient products 10 Promoting water efficiency outdoors 10 Communicating with schools and other groups 11 Working with the public sector – schools, hospitals and local councils etc 12 1.2 Working in partnership to deliver joint water efficiency campaigns 12 Waterwise 13 Waterwise East 13 Tap into Savings 14 Waterwise and Energy Saving Trust’s Regional Environmental Networks for Energy and Water (RENEW) project 14 Joint communications campaigns 15 The Water School website 15 South East Communications Group (formerly South-East Drought Communications Group) 16 1.3 Networks to learn and share information on water efficiency 16 Water Saving Group 16 Saving Water in Scotland 17 National Water Conservation Group 17 Water Efficiency Network 17 Watersave Network 18 1.4 Evidence Base for Large-Scale Water Efficiency in Homes 20 Water company areas 21 Part 2: Water company water efficiency highlights and case studies 22 Introduction 23 Anglian Water 23 Bournemouth and West Hampshire Water 24 Bristol Water 24 Cambridge Water 25 Dee Valley Water 25 Essex and Suffolk Water 26 Northern Ireland Water 26 Northumbrian
    [Show full text]
  • Looking After the Environment
    Looking After the Environment 123 124 Looking After the Environment Strategic Objectives • To protect and enhance Dacorum’s distinctive landscape character, open spaces, biological and geological diversity and historic environment. • To promote the use of renewable resources, protect natural resources and reduce waste. • To protect people and property from flooding. • To minimise the effects of pollution on people and the environment. 16. Enhancing the Natural Environment 16.1 The borough’s landscape, its appearance, its economy, its habitats and its heritage are a valued asset. The protection and enhancement of its natural environment through prudent investment and careful management is a key local priority. Protecting and Improving the Landscape 16.2 The majority of Dacorum is within the Chilterns National Landscape Area. 1 Whilst the character of south eastern section has been eroded through 20 th century development, much of the remainder is protected by its designation as an Area of Outstanding Natural Beauty (AONB). 16.3 The Chilterns Area of Outstanding Natural Beauty (AONB) is one of the borough’s most important landscape assets. It was designated for the natural beauty of its landscape and its natural and cultural heritage. Its special qualities include the steep chalk escarpment with areas of flower-rich downland, woodland, commons, tranquil valleys, the network of ancient routes, villages with their brick and flint houses, chalk streams and a rich historic environment. Its conservation and enhancement is a national priority that will be reflected locally. The Chilterns Conservation Board has a statutory duty to produce a Management Plan, supported by a Delivery Plan. This identifies the management issues faced and provides policies and actions to guide the work of all those who care for the AONB.
    [Show full text]
  • Veolia Water Central Limited 2011 New Chair State
    Annual !Report !and !Financial !Statements !! for !the !Year !Ended !31 !March !2011 ! ! Veolia !Water !Central !Ltd ! ! ! ! ! (Registered !Number: !2546950) ! Veolia Water Central Limited Contents Page HISTORICAL COST FINANCIAL STATEMENTS Chairman’s Statement.................................................................................... 3 Directors......................................................................................................... 5 Board Committees, Executives and Advisers................................................ 6 Report of the Directors ................................................................................... 7 Corporate Governance Report....................................................................... 15 Remuneration Report..................................................................................... 19 Independent Auditors’ Report ........................................................................ 22 Profit and Loss Account ................................................................................. 24 Statement of Total Recognised Gains and Losses........................................ 25 Balance Sheet................................................................................................ 26 Cash Flow Statement..................................................................................... 27 Notes to the Cash Flow Statement ................................................................ 28 Notes to the Financial Statements ................................................................
    [Show full text]
  • Consultees for the Implementation of the Sustainable Drainage
    Department for Environment, Food and Rural Affairs December 2011 Consultees list for the consultation on national build standards and automatic adoption arrangements for gravity foul sewers and lateral drains Contents About this document ................................................................................................................. 1 Our consultees ......................................................................................................................... 1 About this document The consultation describes how Government proposes to implement the Flood and Water Management Act 2010 (the Act) for the construction standards and automatic adoption of new- build sewers England. It should be noted that this list of consultees is not exhaustive. We welcome views from anyone expressing an interest in the consultation. Although not specified on the list, some individuals and all the local authorities in England have been contacted. These authorities include borough, district, city and county councils. It should be noted that the Welsh Government is consulting separately on this subject. Our consultees 2B Landscape Consultancy 365 Environmental Services 3e Consulting Engineers Ltd A.L.H. Environmental Services Aberyswyth University ACO Technologies plc Alde and Ore Association Allen Pyke Association Albion Water Allianz Insurance All Internal Drainage Boards All Local Authorities All Parliamentary Group on sewers and sewerage All Parliamentary Group on Water Amey Anglian (Central) Regional Flood Defence Committee Anglian
    [Show full text]
  • Riverside Tales
    Riverside tales Lessons for water management reform from three English rivers Riverside tales 1 Contents 1 Executive summary 3 Introduction 4 Unsustainable abstraction – the problem of taking too much 8 The iconic chalk stream – the Itchen 15 The Cinderella rivers – the Mimram and the Beane 23 Over the hill and far away – the upper Kennet 27 What can we learn? – barriers to reducing damaging abstraction 32 Moving forward – a new approach to restoring sustainable abstraction WWF is working on freshwater issues in the UK to: n Safeguard the natural world by protecting our native ecosystems n Change the way we live, so we waste less water n Tackle climate change by promoting water management measures that will help our rivers cope with a climate change. 2 Riverside tales Executive summary WWF’s Rivers on the Edge programme campaigns to raise n Plans for water efficiency fell short – annual water efficiency awareness of the impact on nature from taking too much plans expect to save the equivalent of just 0.34% of total water from our rivers. We’re working to develop solutions water supplied to households. A significant number of water to help reduce waste and protect our rivers now, and in company Water Resource Management Plans do not aim to the face of climate change. In 2009, a number of key plans meet the government’s target of 130 litres per person per day were finalised that will impact on how water is managed by 2030. for years to come: the 2009 Periodic Review of Water n Plans for tackling leakage stagnated.
    [Show full text]
  • Hertfordshire Infrastructure and Investment
    REFRESH OF HERTFORDSHIRe’s INFRASTRUCTURE INVESTMENT STRATEGY (HIIS) SUMMARY REPORT JANUARY 2013 1. INTRODUCTION Background 1.1 The review of the 2009 Hertfordshire Infrastructure or partnership to take the lead on infrastructure 1.8 There is no established or agreed definition of what and Investment Strategy (HIIS) has been jointly delivery within the county. is meant by ‘strategic infrastructure’. However, this commissioned by the Hertfordshire Infrastructure review makes a first attempt to reassess the basic Planning Partnership (HIPP) and the Hertfordshire 1.5 This refresh revisits the original HIIS undertaken definitions of ‘strategic’ and ‘local’ identified in the Local Enterprise Partnership (Herts LEP) in response in 2009 and is the first step towards exploring future original HIIS in order to take forward proposals for to a number of changes relating to infrastructure opportunities for co-ordinating the delivery of strategic infrastructure planning in Hertfordshire. planning and delivery that have come about since infrastructure within Hertfordshire. the original report’s publication. 1.9 The review looks at the need to take forward the The Review of HIIS conclusions of the original HIIS to reflect recent 1.2 As the LEP has developed its key activities, it has changes in infrastructure planning; to explore, at asked a number of questions about whether 1.6 The refresh is a quick and focused review of the a high level, the changes in requirements across or not it has a role in the planning and delivery 2009 HIIS. Given the rapidly
    [Show full text]
  • Veolia Water Central Limited Stats March 2010
    VEOLIA WATER CENTRAL LIMITED (FORMERLY THREE VALLEYS WATER PLC) (Registered Number 2546950) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2010 VEOLIA WATER CENTRAL LIMITED (FORMERLY THREE VALLEYS WATER PLC ) 0 Contents Page HISTORICAL COST FINANCIAL STATEMENTS Chairman’s Statement.................................................................................... 2 Directors......................................................................................................... 4 Board Committees, Executives and Advisers................................................ 6 Report of the Directors ................................................................................... 7 Corporate Governance Report....................................................................... 15 Remuneration Report..................................................................................... 19 Independent Auditors’ Report ........................................................................ 22 Profit and Loss Account ................................................................................. 24 Statement of Total Recognised Gains and Losses........................................ 25 Balance Sheet................................................................................................ 26 Cash Flow Statement..................................................................................... 27 Notes to the Cash Flow Statement ................................................................ 28 Notes to the Financial
    [Show full text]
  • State of Env 2012.Cdr
    CONSERVATION BOARD Chilterns Area of Outstanding Natural Beauty State of the Chilterns Environment 2012 an Area of Outstanding Natural Beauty Chilterns Conservation Board The Lodge, 90 Station Road Chinnor Oxon OX39 4HA Telephone: 01844 355500 Email: [email protected] Web: www.chilternsaonb.org CONSERVATION BOARD All maps: © Crown copyright and database rights [2012] Ordnance Survey Licence no. 100044050 Cover photo: Autumn colours, Chinnor Hill (photo: John Morris) Photographs by CCB, John Morris, Chris Smith and Allen Beechey State of the Chilterns Environment 2012 State of the Chilterns Environment 2011 Contents Page Foreword LANDSCAPE AND BIODIVERSITY Overview 1 1. Environmental Stewardship: number of agreements/ area of land covered 5 2. English Woodland Grant Schemes: number of agreements/ area of land covered 9 3. Area of Sites of Special Scientific Interest (SSSIs) in favourable condition 12 4. Percentage of Local Sites and commons in positive conservation management 15 5. Livestock numbers 21 6. Water vole populations and numbers of rivers and canals with water voles 23 7. Quality of water in rivers and length of main river unaffected by low flows 25 8. Length of hedge in good condition using DEFRA condition criteria 29 9. Area of land managed for equestrian purposes 32 10. Area of chalk grassland in positive conservation management 35 HISTORIC ENVIRONMENT Overview 37 11. Listed buildings (Grade 1/11*): total number/ number at risk 39 12. Registered historic parks and gardens: total number/number at risk 42 13. Scheduled Monuments: total number/ number at risk 43 14. Conservation Areas: total number/ number at risk 46 SOCIAL AND ECONOMIC Overview 48 15.
    [Show full text]
  • The Draft Developer Contributions Supplementary Planning Document (2020)
    Stevenage Borough Council The Draft Developer Contributions Supplementary Planning Document (2020) Consultation Statement 30 November 2020 – 25 January 2021 Introduction This document has been prepared to show how the requirements of the Town and Country Planning (Local Planning) (England) Regulations 2012 were adhered to during the production and adoption of the Stevenage Borough Council Developer Contributions Supplementary Planning Document (2021). The SPD will be a material consideration in planning decisions and the purpose of the SPD is to give further guidance and clarity regarding numerous policies within the Stevenage Borough Local Plan (adopted May 2019), particularly SP5: Infrastructure. Town and Country Planning Regulations The SPD has been produced in accordance with Town and Country Planning (Local Planning) (England) Regulations 2012. The most relevant regulations relating to the process are as follows: Regulation 12: Regulation 12(a) requires the Council to produce a consultation statement before adoption of the SPD, this must set out who was consulted, a summary of the issues raised, and how these issues were incorporated in to the SPD. Regulation 12(b) requires the Council to publish the documents for a minimum 4 week consultation, specify the date when responses should be received and identify the address to which responses should be sent. Regulation 35: Regulation 12 states that when seeking representations on an SPD, documents must be available in accordance with Regulation 35. This requires the Council to make documents available by taking the following steps; o Make the document available at the principal office and other places within the area that the Council considers appropriate; o Publish the document on the Council’s website Details of consultation Following approval at a meeting of the SBC Executive, consultation was undertaken on the Draft Developer Contributions SPD for a period of over eight weeks, from 30 November 2020 to 25 January 2021.
    [Show full text]
  • Spend Over £500 2011
    Payments Made to Suppliers Over £500 Between 1 April 2011 and 31 March 2012 REGISTRATION BODY NAME SERVICE LABEL SERVICE CODE EXPENDITURE CATEGORY EXPENDITURE CODE PAYMENT DATE AMOUNT SUPPLIER NAME SUPPLIER ID 138401 NORTH HERTS DISTRICT COUNCIL PLANNING DEVELOPMENT 400 ADVERTISING 12550014371 05/04/2011 533.28 ARCHANT REGIONAL LIMITED 113500 39008072 NORTH HERTS DISTRICT COUNCIL REVENUES & BENEFITS 301 VAT ONLY 63609350906 05/04/2011 3,210.05 PENHAM EXCEL LIMITED 2134100 39008079 NORTH HERTS DISTRICT COUNCIL REVENUES & BENEFITS 301 VAT ONLY 63609350906 05/04/2011 984.72 MARSTON GROUP LIMITED 2393700 2706200 NORTH HERTS DISTRICT COUNCIL WASTE MANAGEMENT 421 BUILDING SERVICE 12720005125 05/04/2011 700 LIBERTY CORPORATION LIMITED 2356800 404998 NORTH HERTS DISTRICT COUNCIL PROPERTY SERVICES 595 BUILDING SERVICE 14421002010 05/04/2011 650 HAWKSTONE BUILDERS 2628400 2706203 NORTH HERTS DISTRICT COUNCIL WASTE MANAGEMENT 421 CONFERENCE 36400000750 05/04/2011 648.5 EAST HERTS DISTRICT COUNCIL - DEPOT 1176200 78964 NORTH HERTS DISTRICT COUNCIL LEISURE SERVICES 230 CONSERVATION 11730266984 05/04/2011 3,600.00 HERTS & MIDDLESEX WILDLIFE TRUST 450800 78975 NORTH HERTS DISTRICT COUNCIL LEISURE SERVICES 230 CONSULTANCY 11720016211 05/04/2011 13,750.00 LGC TOWN CENTRE PARTNERSHIP LTD 2355400 1002201 NORTH HERTS DISTRICT COUNCIL REGIONAL & STRATEGIC PLANNING 403 CONSULTANCY 52105460836 05/04/2011 4,455.88 BUILDING DESIGN PARTNERSHIP 2515100 179833 NORTH HERTS DISTRICT COUNCIL ENVIRONMENTAL PROTECTION 420 CONSULTING 12911044420 05/04/2011 1,000.00 BLUE
    [Show full text]
  • Infrastructure Delivery Plan Review May 2013 Enfield Council
    Enfield Council Enfield's Infrastructure Delivery Plan 2013 Review: Consultation Draft May 2013 Infrastructure Delivery Plan Review May 2013 Enfield Council Contents 1 Executive Summary 3 2 Introduction 7 2.1 Introduction 7 2.2 Aims and Scope of the Infrastructure Delivery Plan 10 2.3 Policy Context 12 2.4 Enfield in Context 13 2.5 Structure of Document 16 3 Physical Infrastructure 17 3.1 Transport 17 3.2 Utilities and Renewable Energy 38 3.3 Water and Drainage 43 3.4 Waste 49 3.5 Telecommunications 50 3.6 Public Realm 53 3.7 Historic 55 4 Social and Community Infrastructure 59 4.1 Education 59 4.2 Health Care 69 4.3 Social Care 74 4.4 Children's Services 80 4.5 Community Services 81 4.6 Leisure Services 91 4.7 Cultural Services 97 4.8 Emergency and Essential Services 101 5 Green Infrastructure 105 5.1 Parks and Open Spaces 105 5.2 Lee Valley Regional Park 114 5.3 Waterways 116 6 Regeneration Priority Areas 119 6.1 Central Leeside Including Meridian Water 119 6.2 Edmonton 121 6.3 North East Enfield Including Ponders End 122 6.4 North Circular Including New Southgate 124 6.5 Enfield Town Including Enfield Town Station 125 7 Conclusions 127 7.1 Conclusions 127 Appendices A List of Consultees 130 B Acronyms 132 C Glossary 136 Enfield Council Infrastructure Delivery Plan Review May 2013 Contents Infrastructure Delivery Plan Review May 2013 Enfield Council 1 Executive Summary Executive Summary 1.1 This Infrastructure Delivery Plan (IDP) seeks to establish what additional infrastructure is required to support the planned increase in new homes and jobs, and the projected population growth within the borough up to 2026 and beyond.
    [Show full text]
  • Annual Report and Financial Statements for the Year Ended 31 March 2013
    Annual Report and Financial Statements for the year ended 31 March 2013 Affinity Water Limited (formerly Veolia Water Central Limited) Registered Number 2546950 Saffron Walden Harwich Stevenage Luton Clacton-on-Sea Harlow Watford LONDON Woking Guildford Dover Folkestone Contents Statutory Financial Statements Saffron Walden 4 Business highlights 5 Directors and advisers Harwich Stevenage 6 Chairman’s statement Luton 8 Chief Executive’s business review Clacton-on-Sea 26 Directors’ report Harlow 34 Ownership and corporate governance 44 Remuneration report Watford 50 Independent auditor’s report 52 Profit and loss account 53 Statement of total recognised gains and losses LONDON 54 Note of historical cost profits and losses 55 Balance sheet 56 Cash flow statement Woking 57 Notes to the cash flow statement 58 Notes to the financial statements Guildford Regulatory Financial Statements Dover Folkestone 94 Certificates of compliance 96 Independent auditor’s report 99 Historical cost profit and loss account 100 Historical cost statement of total recognised gains and losses 101 Historical cost balance sheet 103 Reconciliation between statutory accounts and regulatory accounts 105 Current cost profit and loss account 106 Current cost cash flow statement 107 Notes to the current cost cash flow statement 108 Notes to the current cost financial information 120 Licence condition F – paragraph 7 activity cost analysis 124 Licence condition F – paragraph 7 activity cost analysis (2011/12 restated) 128 Accounting separation trial 2012/13 130 Areas of supply
    [Show full text]